john najarian as per usual.comments out of the conference, what do you make of the overall tenor of the markets here? >> another day of relatively gentle pullback type action. seems like a lot of the drivers that got us here are at least reversing on a short-term basis. you had the dollar flieding up. it had been sliding. the market here in terms of u.s. sox is trying to digest whether the whole dynamic has changed or just having a pull back. i think the vix tells you right now it is just kind of a no big deal pull back. . we're trading almost exactly flat year to date. >> what's causing this doc in your view? >> nervousness from the fallout continued from carl icahn's comments. as well as disappointing earnings last week. as great as amazon and facebook were last week, there were a host of others. alphabet, i was gonna say google. >> still you have to to get to that. >> it's tough to spit it out. however, i think mike nailed it as far as the reason we're so flat is that crude oil isn't giving the bear what is t

and john najarian unveils the unusual activity he's seeing in those stocks. halftime report back after this. >>> i'm melissa lee. coming up on the top of the hour at "power lunch," a rocky road for several of the big department stores. a number of these stocks taking a beating. are they looking like bargains at these levels? apple's down, how to trade the stocks in the months ahead of the anticipated iphone 7 release. and saudi arabia's new oil boss means for the stability of oil prices ahead. all that and much more at the top of the hour on power. >> it's time for our the trader blitz. four trades on four stocks making news today. first up, teva beating on the bottom and the top line. joe? >> this is interesting. this is one of pete's favorites. will ask his opinion when i'm done with this one. everyone keeps talking about a little bit of inflation coming back here in the united states, it's coming from the health care sector. the roll-off of the one-time price cut in the affordable care act. i like the way teva looks here on the charts. fundamentally, i lik

with us for the hour today, joe terranova, john and pete najarian and michael santolli. t off with the markets and those comments from san francisco fed president john williams who said today two to three rate hikes are appropriate this year. raises the question of whether a steep summer sell-off will b

with us for the hour today, joe terranova, john and pete najarian and michael santolli. let's kick it off with the markets and those comments from san francisco fed president john williams who said today two to three rate hikes are appropriate this year. raises the question of whether a steep summer sell-off will be the result if the fed moves. doc, what's the market going to do now that almost everyone is saying two to three this year? >> not almost everyone, first of all. this guy is an outlier and he is going to be wrong, wrong, wrong. he will be wrong about this year, 2016. he will be wrong about 2017. he's basically or is saying seven rate hikes within -- by te the end of 2017. ain't happening. no way, no how. >> this is the perfect point to have the conversation of whether the market is truly ready. is the market ready? >> absolutely not. >> i don't think the market's ready for two or three rate hikes this year. if you look at the most expensive sectors in the s&p, they are basically sectors that have done really well because rates have gone nowhere for seven years.

. >> that is for the hour of e joe terranova and john and pete najarian and joe weiss. and now, with the production schedule, ceo elon musk is responding to the nay-sayers and saying on the conference call, what i find ironic for the nay-sayers they transition from saying it is impossible to saying it is obvious. i say, wait a second is it obvious or impossible, because it can't be both. who is right, chanos or musk, pete? >> well, in the short term or the longer teerm term, it is chanos, and the reason i is a they is because they have had nothing but production issues for quite some time now, and the delays and the issues and now talking about ramping up, and going from 50,000 to 90,000, and supposedly getting 80,000 to 90,000 this year, and if they can get that number, it is impressi impressive. phil lebeau has been talking about i, and it is ing a graggro get to that level, and the 500,000 level in two years from now, and it is amazing, scott. we know great drives, and people are going after the model 3, and everybody put the $1,000 down, and maybe over $400,000 now,